Focus on Precious Metals, Trade Quiet, Market Waits to Hear from Bernanke
Aug Gold was last + 7.00 at 1,290.50 oz.
Spot Gold was last quoted + 8.60 at 1,292.25 oz.
Sept Comex Silver last traded + 0.116 at 19.955 oz
World market are looking ahead to Wednesday appearance by US Federal Reserve Chair Bernanke before the US House of Representatives, he will report on US monetary policy and the economy.
Traders hope the Fed Chair will offer clues on when the Fed will start to back off on its QE program. Many still believe the Fed will begin to pare in September, but last week hinted he wants QE to start to wind down later rather than sooner, as he feels the US economic recovery is fragile.
US economic data out Tuesday; consumer price index for June came in a bit higher than expected, + 0.5%, industrial production and capacity utilization was close to expectations. The data has not impacted the market or precious metals.
The London PM Gold fix is 1,291.50 Vs the prior London PM fixing at 1,284.75.
Latest posts by Paul Ebeling (see all)
- More Than 50% Of Food Tested By USDA Contains Pesticides - December 20, 2014
- Chicago Agriculture Commodities Finish Lower - December 20, 2014
- LME Base Metal Prices Finish Higher Friday - December 20, 2014
- Argentina To Ease Foreign Currency Restrictions - December 20, 2014
- F1: Mercedes’ Jock Clear Replaces Pat Fry At Ferrari - December 19, 2014
Small Investors and Emotional Trading University of Miami Study In ... read more
US China Relations, Another Cold War Looms China yesterday said ... read more
LME Base Metal Prices Finish Higher Friday The base metal ... read more
F1: Mercedes' Jock Clear Replaces Pat Fry At Ferrari Veteran ... read more